Setting your goals too small is the single biggest mistake I see by almost everyone I meet. Including myself.
I love talking to people, business owners and entrepreneurs about what they are trying to accomplish, what they want to become and essentially what their goals are.
The issue – Most people either: a.) Have no idea about their goals or b.) Have goals so small they will never achieve them.
Goals so small they don’t achieve them?
Setting your goals tiny “just enough to have a comfortable life” – Is probably the stupidest thing you can do. “I want to be comfortable, have some money in the bank and go out for dinner a few times a month….” Really?
That’s your goals?
A goal needs to be something that if you achieve will change the way you look at life.
If you are already close to a goal you will likely never achieve it because you won’t be putting in the work to reach “the tipping point.” If you never reach this tipping point then it doesn’t matter how small or large your goals are.
I recently hit my 2018 year end goal (It was just a certain amount of profit per month). The issue I had was I didn’t really feel anything. There wasn’t a massive endorphin rush, I didn’t have a massive paycheck and it was just cool.
Setting your goals to small is dangerous for this exact reason.
Interestingly someone I spoke to about this exact year end (2018) goal stated it was too big and that I should focus on something else, not just the growth/financials. This was a terrible piece of advice.
There’s something called the DRIFT. Something that MJ DeMarco refers to as the SCRIPT but I refer to as the drift. Without ranting about this for to long, because if you know me you know I could talk about this for decades!
The drift is something that says you’ve been programmed to do certain things without even knowing it. AKA Go to school, get good grades, go to college, get good grades to get into a good Uni, go to a good Uni, get good grades so you can get a good job, get a good graduate job (if your lucky/very good), work your way up the corporate ladder and retire “rich” by 55, 50 if you’re a good investor with half a mill or a mill in the bank.
What the actual fuck is that.
You have literally nothing.
Your job is being translated directly to your life. But I’m ranting now, so will get back on track.
When you set your goals to small you don’t reach them because you don’t take enough action (above and beyond) what you are already doing to reach them.
Sure you can get lucky, but let’s assume you don’t “run well in life”
This is a common principle I know 2 people who I’m relatively close with. One owns a “business” if you can call it that and the other just has a job. Their goals are to be “comfortable”, make £30k a year range etc. Now I don’t want to come across like a d*ck and you can measure success by any medium. If he makes £30k a year and works 3 hours a week then fair enough that’s impressive, but this is the “to be comfortable” goal. It’s just so risky.
When you just try to “be comfortable” and hence only put comfortable amounts of effort and work in upfront, you will almost never end up being comfortable and most of the time you’ll end up working a job you don’t really like for longer than you want.
This also relates back to investing money into your business. If your goals are £100k a month in profit then spending £50,000 on a business isn’t really that big an expensive. Whereas if your goals are £50,000 a year salary then spending £50,000 on a business expensive doesn’t seem possible as it doesn’t make financial sense.
So setting your goals small can actually have a huge impact on your work ethic and action.
Note: I will say that if your goals don’t have actionable plans you might fall into procrastination or paralysis. Getting over this is actually really really easy. You just work backwards.
Let’s say your goals are £100k a month. The first aspect you need to understand is you can’t tie your time to money to make this amount. So now you need either a.) A team or b.) A system. Most people opt for systems nowadays I’m not gonna go to in-depth into business systems but it should be pretty clear if your goals are that high that you can’t do it without a process.
Start to work backwards, let’s say you sell a recurring subscription service, whether that’s a piece of software, a service you (but not actually you) complete or any other monthly retainer. Let’s say this costs £100/month. The maths becomes really easy now. You need to get 1,000 customers. Sounds a lot easier than 100k a month.
Next work out how to get 1 customer. The zero to one principle.
This is where you have to implement your marketing plan, again this post is just about goals not marketing or sales. But of course this is incredibly important. If you can get 1 loyal customer you can get 1,000. Even in the smallest of niches there will be 1,000 people who need what you are offering. This is assuming that you have created a valuable solution to a problem; If you haven’t then you shouldn’t be in business in the first place anyway.
If your goals are slightly smaller and you want to make say £100k a year. Calculate the lifestyle you want and again work backwards.